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News release

Baltimore

JLL arranges sale of suburban Baltimore multifamily community


​JLL's Capital Markets experts announced today that the company arranged the sale of Winthrop Apartments in Towson, Maryland, on behalf of Chesapeake Realty Partners. The Bozzuto Group worked with BrownLee Winthrop Management, LLC in the purchase of the 295-unit apartment community.

Managing Director Christine Espenshade and Executive Vice President Robert Garrish led the JLL team on the transaction.

"Demand for high-quality multifamily product remains steady, particularly for well-located assets in suburban areas," said Espenshade. "This building stands apart in the community due to its prime location, luxurious amenities and best-in-class finishes."

Winthrop Apartments features a culinary lounge, yoga room, resort-style swimming pool, dog washing station and outdoor fire pit. The community is located near several major employers and is close to I-695, providing residents with excellent connectivity to the entire Baltimore metro area. 

Already intimate with this community, Bozzuto Management Company has managed Winthrop Apartments since its opening. "It's a privilege to continue the great work of the Chesapeake Realty Partners, and together with BrownLee Winthrop Management, LLC, further our efforts to create sanctuary at Winthrop," said Bozzuto Chairman and Co-Founder Tom Bozzuto. "We are honored to join BrownLee Winthrop Management, LLC as stewards of this community moving forward." 

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. The division employs over 200 professionals who provide comprehensive investment sales and disposition services with access to thousands of domestic and foreign investors. JLL is also one of the nation's largest affordable and conventional multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

For more, please visit The Investor, an online and mobile app news source providing real-time commercial real estate news to asset buyers and sellers around the world.

For more content, including videos and research resources on JLL, please visit the firm's U.S. media center web page: http://bit.ly/18P2tkv.

About JLL

JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. A Fortune 500 company, JLL helps real estate owners, occupiers and investors achieve their business ambitions. In 2016, JLL had revenue of $6.8 billion and fee revenue of $5.8 billion and, on behalf of clients, managed 4.4 billion square feet, or 409 million square meters, and completed sales acquisitions and finance transactions of approximately $145 billion. At the end of the second quarter of 2017, JLL had nearly 300 corporate offices, operations in over 80 countries and a global workforce of nearly 80,000. As of June 30, 2017, LaSalle Investment Management has $57.6 billion of real estate under asset management. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit www.jll.com.

About Bozzuto

The Bozzuto Group is an experience-focused real estate company that is continually celebrated for its developments, customer service and workplace culture. With an expertise in homebuilding, multifamily development, construction and management for itself and its clients, Bozzuto is devoted to crafting extraordinary experiences. ​

Founded in 1988, Bozzuto has developed, acquired and built more than 42,000 homes and apartments. Currently, it manages more than 65,000 apartments and 2.2 million square feet of retail space along the East Coast between Miami and Boston, in the Northeast and Chicago. www.bozzuto.com

About BrownLee Winthrop Management, LLC

BrownLee Winthrop Management, LLC is a newly formed real estate operating company owned by Eddie C. Brown and Keith A. Lee.

About Chesapeake Realty Partners

Headquartered in Owings Mills, Maryland, Chesapeake Realty Partners builds on nearly 75-years of success in the Mid-Atlantic real estate market.  CRP is actively engaged in all aspects of real estate development – land acquisition; land planning and land development; residential lot sales; construction and operation of residential rental communities; and construction and operation of commercial properties.  For additional information about CRP and its projects, go to www.ChesapeakeRealtyPartners.com.